Elliott wave analysis of Ripple for October 4, 2021

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Ripple has completed sub-wave ii near 0.8560. We are looking for an upside acceleration towards 2.3227 in sub-wave iii where a sideways consolidation is expected. In the long term, upward movement to 3.3170 and higher is expected.

In the short term, a break above minor resistance at 1.1300 and ideally above resistance at 1.2400 may occur. If so, the digital asset may rise to 1.4160, 1.9665, and 3.3170.




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Torben Melsted
Analytical expert of InstaForex
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